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Stunning and Beautiful sunny day view of Sierra Madre Range without the sun_edited_edited.

COPALITO

Project Locations

Project Locations
Map of Mercado Minerals' Silver mining project "Copalito" and recent discoveries in Mexico Silver Belt Sinaloa
Western Mexico Silver Belt Sinaloa, Mexico

The Emerging Western Silver Belt of the Prolific Sierra Madre Occidental where existing mines and recent discoveries include:

  • Vizsla Silver, Panuco District

  • First Majestic Silver, San Dimas

  • Pan American Silver, Alamo Dorado

  • Greater than 3000 ha located in a mining friendly jurisdiction.

  • Properties located near power, roads, infrastructure and local workforces

Copalito

  • 123 km northeast from Culiacan

  • 35 km east of McEwen El Gallo Mine

Introduction

  • District scale opportunity with 7 concessions covering overing 2,820 ha

  • Option to earn 100% over 5 years

  • 8 km cumulative strike length over six known silver and gold veins

  • All historical exploration data acquired including 81 diamond drill holes

  • Inaugural 3,000m drill program underway

  • Highlight Results:

    • 256 g/t silver, 1.46 g/t gold, 0.32% lead 1.06% zinc over 6.50 m in COP-26-001

      • Including 848 g/t silver, 4.83 g/t gold, 0.20% lead, and 0.47% zinc over 1.20 m

    • 89 g/t silver, 0.46 g/t gold, 0.12% lead and 0.49% zinc over 7.25 m in COP-26-003

      • Including 149 g/t silver, 0.73 g/t gold, 0.19% lead, and 0.77% zinc over 4.25 m

    • 347 g/t silver, 0.22 g/t gold, 0.17% lead 0.38% zinc over 13.10 m in BDH-20-004

    • 125 g/t silver, 2.00 g/t gold, 0.34% lead and 0.58% zinc over 23.00 m in BDH-21-055 

  • Only 60% of known mapped veins have been drilled

Introduction
Map of Mercado Minerals' Copalito project​

Great Location

  • 123 km northeast from Culiacan

  • 35 km east McEwen El Gallo Mine

Large Land Package

  • 7 concessions covering 2,820 ha

Earn 100%

  • Option to earn 100% with staged cash payments totaling $3.5M USD

Copalito Site with mountain in background

Geology

Geology
Geological map of Mercado Minerals' Copalito project
Legends of Mercado Minerals Copalito project Geological map

  • Located along the interpreted western margin of a large regional northwest trending graben

  • Northwest trending vein mineralization occurs within the lower andesite volcanic sequence a prolific host of epithermal vein mineralization in the Sierra Madre Occidental

  • Veins are parallel to, and near the western bounding faults of the graben

  • Near contact with the upper volcanic sequence of rhyolitic tuffs, ignimbirtes and flows

Vein Mineralization

Map of Copalito Mineralization

  • 6 principle northwest trending low sulphidation epithermal veins with estimated cumulative strike length of over 8 km

  • Mineralized sections of the veins range from 0.5 m to over 15 m in thickness

  • Textures include chalcedonic banding, barite casts, open space brecciation and amethyst quartz typical of known
    epithermal style mineralization throughout the Sierra Madre Occidental

  • Minimal alteration halos and geochemical signatures indicate that the top of the mineral system is preserved

  • Several old workings present at 5 Señores, El Pilar, La Chivas and El Agua

Mineralization
Vein Mineralization

Historic Mine Working & Surface Occurrences

5 Señores

La Chiva

5 Senores Silver Vein
El Pilar Silver Vein
El Pilar Silver Vein
El Agua Silver Vein
La Chiva Silver Vein
La Chiva Silver Vein

El Pilar

La Chiva Vein

EL Agua

El Pilar

Click to open in a pop-up

Historic Mine Working & Surface Occurrences

Drilling

Map of priority drill targets in Copalito

  • A total of 81 diamond drill holes completed in 2020 – 2021 by previous operator

  • Drilling has tested approximately 60% of the known strike of the veins and only to an average depth of 100 m

  • Several productive veins and vein segments delineated in the drilling that are open and ready for aggressive follow up drilling

  • 2026 drilling: 3,000m diamond drill program is designed to test extensions of known veins, conduct infill drilling, evaluate targets at depth, and drill newly identified targets

  • Current program over 65% complete

  • Drilling expanding 5 Señores and El Agua along strike and depth

  • Drill currently testing Pilar, El Medio and El Chente

  • First drill tests at SE 5 Señores and El Pilar Sur extension

Drilling

Significant Drill Hole Intersections

High-grade silver and significant gold and base metal drill intercepts include;
343 g/t silver Eq   over 13.10 m in BDH-20-004 and
283 g/t silver Eq   over 23.00 m in BDH-21-055.

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A mules carrying supplies at the project site
Table of Copalito Drill Hole Intersections

1   Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, 75% zinc and 80% copper. The silver – equivalent formula is: ((24 * silver (g/t)*0.91 / 31.1035) + (1900 * gold (g/t)*0.94 / 31.1035) + (0.90 * 2204 * lead %*0.7/100) + (1.10 * 2204 * zinc %*0.75/100) + (4.00*2204*copper %*0.8/100)) *(31.1035 / 24). Metal price assumptions are US$24/oz silver, US$1900/oz gold, US$0.90/lb lead, US$1.10/lb zinc and US$4.00/lb copper. Copper values are only included in the calculation of silver-equivalence for a mineralized intercept where the intercept contains at least one copper value that exceeds 0.1% copper. Numbers may not match due to rounding.

 

2   True widths are unknown.

5 Señores Vein and El Agua Vein Cross Section

Mercado Minerals 5 senores and el agua silver vein cross section map with silver results

1  Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, 75% zinc and 80% copper. The silver – equivalent formula is: ((24 * silver (g/t)*0.91 / 31.1035) + (1900 * gold (g/t)*0.94 / 31.1035) + (0.90 * 2204 * lead %*0.7/100) + (1.10 * 2204 * zinc %*0.75/100) + (4.00*2204*copper %*0.8/100)) *(31.1035 / 24). Metal price assumptions are US$24/oz silver, US$1900/oz gold, US$0.90/lb lead, US$1.10/lb zinc and US$4.00/lb copper. Copper values are only included in the calculation of silver-equivalence for a mineralized intercept where the intercept contains at least one copper value that exceeds 0.1% copper. Numbers may not match due to rounding.

  • A robust multi – vein system with thick intersections of potentially economic mineralization

  • Several segments of the 6 principle veins remain open along strike and down dip of existing drill intersections
     

5 Señores Vein Long Section

Mercado Minerals 5 senores silver vein long section map with silver results

1  Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, 75% zinc and 80% copper. The silver – equivalent formula is: ((24 * silver (g/t)*0.91 / 31.1035) + (1900 * gold (g/t)*0.94 / 31.1035) + (0.90 * 2204 * lead %*0.7/100) + (1.10 * 2204 * zinc %*0.75/100) + (4.00*2204*copper %*0.8/100)) *(31.1035 / 24). Metal price assumptions are US$24/oz silver, US$1900/oz gold, US$0.90/lb lead, US$1.10/lb zinc and US$4.00/lb copper. Copper values are only included in the calculation of silver-equivalence for a mineralized intercept where the intercept contains at least one copper value that exceeds 0.1% copper. Numbers may not match due to rounding.

  • 5 Señores vein drill tested over 1000 m of strike and a maximum vertical depth of 130 m in two locations

  • Remainder of the vein has only been tested to an average of depth of less than 100 m

  • 5 Señores remains open down dip and along strike to the northwest 

  • Opportunity to identify secondary controls for high grade mineralization as well as thicker portions of the vein for aggressive follow up drill testing
     

2026 Exploration

  • Multi-faceted program designed to systematically evaluate the full potential of Copalito

  • Drone magnetics data collected

  • LiDAR data acquired and interpreted

  • Comprehensive soil sampling program – new anomalies identified

  • Forensic mapping, prospecting and sampling – new veins and vein segments delineated

  • Drilling and drill targeting advancing utilizing all facets of our new datasets

  • The full potential of the project is only now being understood

First vertical derivative magnetics compilation map
2026 Exploration

Opportunity & Next Steps

  • Copalito presents a District scale opportunity with known critical mass of silver – gold mineralized epithermal veins that is ready for expansion by drill testing

  • 3,000 m diamond drill program: 65% complete with initial high-grade results reported and additional assays pending from multiple vein targets

  • Significant expansion upside: Only ~60% of the known vein strike tested to ~100m depth, with new vein extensions and targets continuing to emerge

  • Several features indicate that the top of the mineral system is preserved leaving the full depth potential of Copalito intact for productive mineralization

  • Northwesterly extension of vein systems remain unexplored and will be prospected and mapped

  • Structural interpretation is ongoing and will refine drill targeting aimed at testing thicker and potentially higher grade vein segments

  • New discovery potential: Drone magnetic and LiDAR surveys continue to define new northwestern vein targets and expansion areas

Opportunity & Next Steps
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